The Choices You Make Today Will Give You Better Choices Tomorrow… Especially for Women
Platinum Benefit Services, Inc.
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Oct 08, 2009
Florida - Southwest
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According to the American Association of Long-Term Care Insurance, women are especially vulnerable because in general, they will live longer about 5 years longer than men. Women have 10 times the chance of reaching age 85. Women 75+ are far less likely to be married (38%) than men (74%). Women over 65 are twice as likely to be living alone. Tragically, women are far more likely to suffer from Alzheimers Disease.
Aside from those statistics, women are more likely to be caregivers. Today, 7 of 10 unpaid caregivers are women. Most of them balance caregiving with jobs and families. The fact is that more women will reach an age where they will be the recipients of long-term care.
According to a Genworth Financial 2008 claimant study, 41% of the claims paid were single women, and 25% were married. The percentage of claims paid for women was 65% and for men 35%. The percentage of claims paid for Home Care was 42%, Assisted Living 27.5% and Nursing Home 30.5%. And once again, 65% of the claim benefits paid by insurers are paid for care required by women.
Interesting enough, there is no difference in the cost for Long-Term Care insurance premiums between men and women. So be sure to consider that fact when you are a couple purchasing LTC Insurance together. When possible, couples should always try to insure both parties.
AALTCI research analysis shows that it is best to purchase this insurance as young as possible. The current chart shows applicants who were declined for
health reasons:
Age of Applicant % Declined
Under 50 7.3%
50 to 59 13.9%
60 - 69 22.9%
70-79 44.8%
80 and over 69.8%
There are tremendous savings of premium when you buy early as opposed to waiting until you are older. Health and age are very important to that savings. That combined with the declination rates points strongly to acting early. Lock in your good health and lower rates when you can.
Enjoy more choices like the ability to be cared for in your own home. Having insurance affords you those choices and lessens your familys financial burden. It helps families to oversee your care but not necessarily provide the care. As I always say, planning ahead is always the best option.
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Local Services By This Author
Platinum Benefit Services, Inc.
Veteran Benefits , , ,Platinum Benefit Services, Inc. is committed to helping families gain maximum government benefits for Long Term Care and providing both compassion and application expertise. Since 1996, we have helped more than 10,000 families qualify for Medicaid while strategically protecting an estimated $1,000,000,000 in assets in conjunction with appropriate legal counsel.Platinum works diligently to process all types of long-term care applications with a specialization in complex nursing home applications for families who employ high end asset protection strategies. Platinum Benefit Services, Inc. are experts in the field of nursing home Medicaid application processing. Phone : 941-993-0087 Email : [email protected] : Monday - Friday: 8 am EST - 5 pm ESTAbout MeHilary Hayes is a Certified Senior Advisors (CSA) and a financial advocate specializing in long-term care planning by maximizing health Insurance benefits while navigating available government programs like Medicaid, VA, & Social Security Disability & protecting assets. As the Regional Vice President for South Florida at Platinum Benefit Services, Inc., she leverages 35 years of expertise to her role. She also serves as a speaker covering Collier, Lee, Charlotte, Glades, Hendry, & Monroe on topics important to professionals and families of aging Seniors on subjects like Navigating the Senior Years & Senior Scams awareness. Hilary's dedication to assisting seniors and their families navigating complex financial decisions underscores her commitment to providing compassionate and knowledgeable service.
Platinum Benefit Services, Inc.
Medicare & Medicaid Information , , ,Platinum Benefit Services, Inc. is committed to helping families gain maximum government benefits for Long Term Care and providing both compassion and application expertise. Since 1996, we have helped more than 10,000 families qualify for Medicaid while strategically protecting an estimated $1,000,000,000 in assets in conjunction with appropriate legal counsel.Platinum works diligently to process all types of long-term care applications with a specialization in complex nursing home applications for families who employ high end asset protection strategies. Platinum Benefit Services, Inc. are experts in the field of nursing home Medicaid application processing. Phone : 941-993-0087 Email : [email protected] : Monday - Friday: 8 am EST - 5 pm ESTAbout MeHilary Hayes is a Certified Senior Advisors (CSA) and a financial advocate specializing in long-term care planning by maximizing health Insurance benefits while navigating available government programs like Medicaid, VA, & Social Security Disability & protecting assets. As the Regional Vice President for South Florida at Platinum Benefit Services, Inc., she leverages 35 years of expertise to her role. She also serves as a speaker covering Collier, Lee, Charlotte, Glades, Hendry, & Monroe on topics important to professionals and families of aging Seniors on subjects like Navigating the Senior Years & Senior Scams awareness. Hilary's dedication to assisting seniors and their families navigating complex financial decisions underscores her commitment to providing compassionate and knowledgeable service.
Platinum Benefit Services, Inc.
Medicare & Medicaid-Legal Assistance , , ,Platinum Benefit Services, Inc. is committed to helping families gain maximum government benefits for Long Term Care and providing both compassion and application expertise. Since 1996, we have helped more than 10,000 families qualify for Medicaid while strategically protecting an estimated $1,000,000,000 in assets in conjunction with appropriate legal counsel.Platinum works diligently to process all types of long-term care applications with a specialization in complex nursing home applications for families who employ high end asset protection strategies. Platinum Benefit Services, Inc. are experts in the field of nursing home Medicaid application processing. Phone : 941-993-0087 Email : [email protected] : Monday - Friday: 8 am EST - 5 pm ESTAbout MeHilary Hayes is a Certified Senior Advisors (CSA) and a financial advocate specializing in long-term care planning by maximizing health Insurance benefits while navigating available government programs like Medicaid, VA, & Social Security Disability & protecting assets. As the Regional Vice President for South Florida at Platinum Benefit Services, Inc., she leverages 35 years of expertise to her role. She also serves as a speaker covering Collier, Lee, Charlotte, Glades, Hendry, & Monroe on topics important to professionals and families of aging Seniors on subjects like Navigating the Senior Years & Senior Scams awareness. Hilary's dedication to assisting seniors and their families navigating complex financial decisions underscores her commitment to providing compassionate and knowledgeable service.